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Tourism Revenue Outpacing Arrivals, USD 3.3 billion projected by year end

Posted by On October 15, 2018 0 Comment

Jamaica

Jamaica Minister of Tourism, Hon Edmund Bartlett has highlighted that revenue from both cruise and stopover arrivals is outpacing total arrival figures.

Speaking at the Ministry of Tourism’s recent two day mid-term review and strategic planning retreat, Minister Bartlett said, “Preliminary data from the Jamaica Tourist Board shows that foreign exchange earnings are outpacing arrival figures by ten percent,

Last year we saw an unprecedented 4.3million visitors which translated to USD3billion in foreign exchange earnings and the projection is that by the end of this year, Jamaica will see earnings of USD3.3Billion.”

Minister Bartlett lead the two day mid-term review and strategic planning retreat, held at the Terra Nova Hotel, where heads of agencies, divisions and senior manages within the ministry discussed the progress they have made in meeting key performance indicators set ahead of their last meeting. The meeting included all agencies of the Ministry of Tourism – the Jamaica Tourist Board, Tourism Enhancement Fund, Tourism Product Development Company, Devon House Development Company, Jamaica Vacations Ltd, Bath Fountain Hotel and Spa and Milk River Hotel and Spa.

“From this two day self-analysis we were able to drill down to critical programme areas and review our progress so far using data. Of note is that it has been highlighted that for the last five years, our arrivals have grown by 35% and revenue by over 40% which means that we on a positive upward trajectory in both areas,” said Minister Bartlett.

In 2016, Minister Bartlett established 5x5x5 growth targets for the Ministry and its agencies, which seeks to grow the tourism contribution to the economy by providing 5 million visitors over a 5 year period; earn US $5 billion; employ 125,000 directly in the industry; increase room stock by 15,000; and grow at 5% per annum.

Minister Bartlett added that “Through the strategic and deliberate approach of my Ministry and agencies, we are seeing that the KPIs established may have to be revised as we are well on target to achieving and even surpassing these benchmarks. The team has done a tremendous job and through their hard work the sector is experiencing a boom we expected to continue.”

source: eTN